The global food processing industry are valued at over 2,000 billion VND with more than 400,000 enterprises. The global fishery processing market is expected to achieve 260 billion USD in 2023 with a CAGR of 4.3% in the period of 2018 – 2023. The global processed fruits and vegetables market is forecast to achieve 346.05 billion USD in 2022 with a CAGR of 7.1% in the period of 2018 – 2022.

Regarding the domestic market, in Q1/2019, the processing of dried fish increased by 7.05% compared to the same period of 2018. The consumption value of dried fish in Q1/2019 rose 6.7% over the same period last year due to the increasing demand of tourism. Besides, the consumption value of canned fish also went up by 22% in comparison with the same period of 2018, in which canned tuna was the most popular product.

In Q1/2019, the canned meat volume only increased by 8.3% compared to 2018. At that time, African swine fever (ASF) broke out and spread across many local areas, leading to a sharp decrease in products processed from pork. The consumption value of processed meat in Q1/2019 declined slightly by 3.6% in comparison with the same period of 2018.

The volume of starch and products made from starch in Q1/2019 rose 0.9% over the same period last year due to the bleak operation. The consumption value of starch and products made from starch in Q1/2019 increased by 3.2% compared to the same period of 2018 due to the rising income of residents as well as the trend of using safe and high-quality products…